Introduced by Sen. Jack Brandenburg (R) on February 21, 2018 To extend for another two years the Dec. 31, 2018 sunset on a law passed in 2012 to allow local governments to borrow money to cover unfunded employee pension liabilities, which is allowed only if the local has closed its traditional “defined benefit” pension system to new employees. The law also allows locals to incur long term debt to pay for future retiree health insurance costs, which unlike pensions are not legally enforceable obligations. This would be the third extension of this deadline. Official Text and Analysis.
Referred to the Senate Finance Committee on February 21, 2018
Reported in the Senate on March 1, 2018 With the recommendation that the bill pass.
Received in the House on December 5, 2018
Referred to the House Michigan Competitiveness on December 5, 2018
Reported in the House on December 18, 2018 With the recommendation that the substitute (H-3) be adopted and that the bill then pass.